Has Quidel (QDEL) Outpaced Other Medical Stocks This Year?
Investors focused on the Medical space have likely heard of Quidel (QDEL), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Quidel is one of 933 companies in the Medical group. The Medical group currently sits at #12 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. QDEL is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for QDEL's full-year earnings has moved 87.45% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, QDEL has returned 233.20% so far this year. Meanwhile, the Medical sector has returned an average of -0.87% on a year-to-date basis. This means that Quidel is outperforming the sector as a whole this year.
Looking more specifically, QDEL belongs to the Medical - Products industry, which includes 80 individual stocks and currently sits at #122 in the Zacks Industry Rank. On average, stocks in this group have lost 2.14% this year, meaning that QDEL is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track QDEL. The stock will be looking to continue its solid performance.
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